As most soon-to-be brides do, the second we’ve got a beautiful ring on our finger we go straight to the planning process; Picking out colors, floral décor, looking for venues, and scouring through bridal mag’s and blogs looking for “the” dress. One of the most complicated aspects of wedding planning, however, arguably the most important is figuring out your budget. Gone are the traditional days where brides’ parents are taking over the all of the finances of the wedding. Modern day couples today tend assist with the finances more to pay for their own wedding with some help from family members. With that being said, taking the time to plan for a budget is imperative, so here at Simply Couture Weddings we are here to help guide you to planning the right budget for your special day!
Here are the steps the creating your budget:
1. Estimate what you can save.
Multiply the number of months left until the wedding by how much money you and your groom can realistically put aside every four weeks
2. Talk to your families.
Get up the nerve and ask your parents as well as his to see if they’re planning on chipping in for the wedding. If they are, ask them for a specific dollar amount. If they aren’t planning on helping than now’s also the time to ask any other potential donors, like grandparents, if they’re planning to help out. If no family members can help than you keep working on step one.
3. Do the math.
Add up your total contributions with or without your family or his family’s assistance. Subtract from that number 10 percent, which you should set aside for cost run overs. Setting extra cash aside for run overs is one of the best thing you and your fiancé can do simply because there will always be an unexpected expense; it is better to be prepared for that than to be caught off guard, trust us!
Here’s a breakdown of the average expenses of a wedding that should help you:
- Groom’s Formalwear (Rental): 1.1%
- Favors: 1.3%
- Officiant: 1.5%
- Hair & Makeup (Including Attendants’): 1.8%
- Attendants’ Gifts: 2%
- Invitations & Other Printed Materials: 2.8%
- Transportation: 2.9%
- Flowers: 5.7%
- Wedding Rings: 6%
- Music: 6.8%
- Wedding Dress, Veil & Other Accessories: 7.5%
- Photography & Videography: 13.6%
- Reception Site, Meals, Cake & Bar: 47%
*Don’t forget that important addition– YOUR WEDDING PLANNER (the one that can make almost ANY budget, work–test us)*
Happy Saving! Xo